Finding the Best Banks in Idaho
Idaho is home to hundreds of banks, spanning from national organizations to local institutions. But with so many choices, it can be a challenge to find one that’s just right. So to make the process easier, we developed a report on the best banks in Idaho.
|Wells Fargo Read More||0.01%||$25|| |
|D.L. Evans Bank Read More||0.05%||$100|| |
|U.S. Bank Read More||0.01%||$25|| |
|KeyBank National Association Read More||0.01%||$50|| |
|KeyBank National Association Read More||0.01%||$10|| |
|Ally Bank Read More||1.80%||$0|| |
|Wells Fargo Read More||0%||$10|| |
How We Determine the Best Banks in Idaho
We began our research by exploring which banks had the greatest number of branches in Idaho. Afterward, we dug into more specific details. We examined who had the best savings accounts, overall fee structure, customer service, technology and more. The result was a list of the best banks in Idaho. So read on to see why these banks made it.
Best National Bank: Wells Fargo
Wells Fargo stands as one of the largest financial institutions in the country. And Idaho residents have nearly 100 branches to choose from. They also have plenty of financial products at their disposal. From checking to individual retirement accounts (IRA), Wells Fargo has you covered. And its basic products are fairly inexpensive. For instance, you can open a savings account with just $25. And to help you stick to a good savings habit, Wells Fargo will transfer $1 from your checking account into your Way2Save account after each qualifying transaction.
Best Regional Bank: D.L. Evans Bank
D.l. Evans has been serving Idaho communities since 1904, and its commitment to its customers remains today. You can open a savings account with a $100 minimum deposit. And the bank will waive its $3 quarterly fee as long as you maintain that balance. You also get the following free of charge:
- Online banking
- Mobile banking
In addition, the bank offers various checking accounts, certificates of deposit (CD) accounts and even a health savings account (HSA). The latter can help you save for future medical expenses as you enjoy some unique tax breaks.
Best Customer Service: U.S. Bank
Following a recent study by J.D. Power, U.S. Bank emerged as one of the top banks for customer satisfaction. The researchers examined critical aspects of the customer service experience, including conflict resolution, products and fees.
And Idaho residents have access to nearly 100 branches. Plus, you can contact them via phone or email anytime.
Best Free Checking Account: KeyBank
If you’re seeking a basic, no-frills checking account, look no further than KeyBank. It offers a Hassle Free account that truly lives up to its name. You can open one with just $10. And you don’t have to worry about paying a monthly service charge or maintaining a minimum balance.
And you still get access to all of KeyBank’s online and mobile banking features, including its financial wellness platform called HelloWallet.
Best in Tech: KeyBank
When it comes to online and mobile banking, even some of the biggest players in the industry are sticking to the basics: mobile check deposit, bill pay, money transfer, etc. But KeyBank takes it a step further by giving its customers access to HelloWallet, a platform designed to help people improve their financial wellness.
Here’s how it works. When you log on, the tool gives you a financial wellness score based on factors like account balances, current income and spending habits. It can also help you visualize this through graphs and charts to help you figure out where you can cut back on and more. And it doesn’t limit you to KeyBank products. You can get a glimpse of accounts from multiple financial institutions to get a complete financial picture. And the better you get at managing your finances, the higher your score. It even gives you insights and suggestions on how to improve. In addition, you can create a budget to stick to directly on the platform, which you can access from a compatible smartphone, tablet or desktop computer.
Best Online Savings Account: Ally Bank
Idaho houses many banks large and small. But these days, most brick-and-mortar banks aren’t offering the best savings accounts with high APYs. Plus, most banks require you to maintain large minimum balances for the best rates, some of which barely beat the national average. However, online banks tend to pay the best rates these days. And one of the best online high yield savings accounts we’ve examined comes from Ally Bank. Their basic online savings account is anything but. It generates a hefty 1.80% APY, and you can open one with any amount of money you’d like. You also don’t need to maintain any minimum balance. And to make matters better, Ally won’t charge you any monthly maintenance fees. Plus, the bank compounds interest on a daily basis.
In addition, you can easily put money into your account via mobile check deposit, direct deposit or electronic transfers from other accounts.
Best for Students: Wells Fargo
If you’re a student seeking a simple and inexpensive checking account, Wells Fargo has you covered. In fact, it waives the monthly service fee for students who are between the ages of 17 and 24. And the bank will keep waiving the fee afterward as long as you engage in one of the following:
- Make 10 or more posted debit card purchases
- Establish direct deposit of at least $500
- Keep a $1,500 minimum daily balance
In addition, account holders get access to all of the bank’s mobile banking features. But if you’re interested in other options, you might want to check out our report on the best savings accounts for kids.
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